Dow down 4.5% in 9 days; gold hits record $875 an ounce
CBS
Transcript
[Music] there's no end in sight to the selling on Wall Street the new year is only 9 days old and already the Dow is down about 4 and a half% the NASDAQ is off more than 7% in the last session the Dow plunged 238 points while the NASDAQ slid 59 the culprits another drop in pending home sales and a warning from AT&T that the slowing economy is already hurting consumer spending later today aluminum giant Alcoa kicks off quarterly earnings season get ready to dig a bit deeper if you're heading to the jewelry store uncertainty on Wall Street is driving more investors to Safe buys like gold prices surged above $875 an ounce Tuesday to an all-time high and that will translate into higher prices for gold jewelry mortgage lender Countrywide Financial is denying rumors that it's headed for bankruptcy investors didn't buy it giving the stock its biggest drop in 20 years and more Americans are turning to the web to book their travel plans than ever before 2007 was the first year that More Travel was purchased online than off according to a new study 51% of US Travel was booked on the internet and projects that number will grow to 60% by 2009 that's your money watch log on to cbsnews.com for more in New York I'm Alexis christopherus